Thumbnails Removed From WordPress?

While uploading photos, I noticed that the “thumbnail” option seems to have been removed from the latest version (2.3.2 at time of writing) of WordPress. Uploading images no longer generates thumbnails either. A few quick Google searches were not much help, except that a few people with blogs on wordpress.com saw it had been removed too. I’m going to have a look at the changelogs in case there is a reason it was removed (like the preview pane for writing posts), and see if I can get it back. I will post an update if I have any success.